The consortium of public fund shareholders consisting of Banque Misr, Misr Insurance Company, Misr Life Insurance Company and the National Investment Bank announced the completion of the sale of their entire shares in the capital of the International Company for Financial Leasing (Incolise) amounting to 7,729,720 shares, representing 38.65% of the company’s total capital, at a price of 41 EGP share.

The International Company for Financial Leasing (Incolice) was established in 1997 by a group of financial institutions, and it is one of the oldest companies working in the fields of financial leasing in Egypt. Incules shares were listed on the Egyptian Stock Exchange in 2002 to become the first financial leasing company to be listed on the Egyptian Stock Exchange, and since then the company's shares have been listed on the Egyptian Stock Exchange (currently in Schedule C). By the end of 2021, the company managed to achieve a net profit of EGP 82 million, an increase of 11% over the net profit for the year 2020.

Mr. Mohamed El-Etreby, Chairman of Banque Misr, stated that the bank’s investment in the capital of Incolis began since its establishment in 1997, which was one of the first companies working in the field of financial leasing in Egypt, with the participation of several strong financial institutions, and it has remained Incolease Company has provided a strong performance in the financial leasing market during the previous years, and this coincided with the establishment of Banque Misr during the year 2017, with the aim of expanding in that activity in line with the bank’s strategy to expand in the field of non-bank financial companies, which currently leads the ranking Financial leasing companies According to reports issued by the Egyptian Financial Supervisory Authority, the recent acquisition of a controlling stake in CI Capital has led the bank to indirectly own a majority stake in Korbilis, one of the giants in the field of financial leasing. These factors led to Banque Misr taking a decision to sell its entire stake of 15..

Mr. Basil El Heni, Chairman of the Misr Insurance Holding Group, stated that the contribution of the Misr Insurance and Misr Life Insurance companies of the group in Incules has been stable since the establishment of the company, which received all the support and assistance from its shareholders during its honorable history in the field of financial leasing, and The decision to exit is not considered a devaluation of Inculis, but rather a success certificate for it, because the shareholding has grown and reached a stage of maturity that requires selling it within the framework of the active management of the portfolio of the Misr Insurance Holding Group’s contributions, especially that the group recently established a financial leasing and factoring company wholly owned by it as a first To expand the provision of non-banking financial services beyond insurance services, and the constituent assembly meeting of this company - Misr Finance for Financial Services - has already been held, and the first meeting of its board of directors was held on March 21, 2022.

Mr. Ashraf Negm, Vice Chairman of the Board of Directors of the National Investment Bank, stated that the bank was one of the founders of the company since its inception in 1997, where it contributed about 7.2% to its capital, and it represented one of his successful investments, as it is one of the leading companies in the field of leasing This is confirmed by the size of the company’s financial leasing clients’ portfolio, which amounted in 2021 to about 3.2 billion pounds, and it achieves good annual profits, but the bank took its decision to exit the company’s capital in light of the bank’s current strategy to rotate its investment portfolio in a way that allows it to maximize its profits. Capitalism and focus on investments in development projects that serve sustainable development and Egypt's vision 2030.